Arizona domicile on growth path

Arizona’s captive insurance market is on target to exceed its 2013 growth rate, with 111 licensed captives domiciled in the state as of September 30, 2014.

The captive insurance division of the Arizona Department of Insurance said that in 2014 so far, eight captives have been licensed and three have been dissolved or redomesticated, providing a net growth of five. It also has three applications pending.

Since 2002, Arizona has licensed 167 captives, with 111 captives currently operating in the state.

Health care and social assistance represent the largest class of captives (26 percent), with finance and insurance coming second (20 percent) and construction coming third (17 percent).